Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    151 228th St New York, NY 10023

    • Retail residential properties
    • 14,320 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Aug 05, 2022
    Value Estimations
    $1,975,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2288912
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 151 228th St

    Year built
    1915
    Lot size
    0.08 lot acres
    Property size
    14,320 SF
    Zone code
    R6
    Property type
    Retail residential properties
    APN
    02215-0197
    APU
    22150197

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.909
    Latitude
    40.8775
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,062
    $62,280
    $354,150
    $416,430
    -
    $174,000
    $818,000
    $992,000

    Comparable in this City

    • Value Estimation
      $3,575,000
      24,946 SF

      153-155 Amsterdam Ave

      STORES & APARTMENTS • 24,946 SF
      153-155 Amsterdam Ave, New York, NY 10023
      View Details
    • Value Estimation
      $1,770,000
      11,640 SF

      100 67th St

      STORES & APARTMENTS • 11,640 SF
      100 67th St, New York, NY 10023-5926
      View Details
    • Value Estimation
      $3,090,000
      21,960 SF

      325 71st St

      STORES & APARTMENTS • 21,960 SF
      325 71st St, New York, NY 10023-3540
      View Details
    • Value Estimation
      $950,000
      6,112 SF

      238 72nd St

      STORES & APARTMENTS • 6,112 SF
      238 72nd St, New York, NY 10023-2828
      View Details
    • Value Estimation
      $26,875,000
      6,010 SF

      176 72nd St

      STORE/OFFICE (MIXED USE) • 6,010 SF
      176 72nd St, New York, NY 10023-3374
      View Details
    • Value Estimation
      $1,375,000
      8,961 SF

      132 72nd St

      STORES & APARTMENTS • 8,961 SF
      132 72nd St, New York, NY 10023-3345
      View Details

    Similar Nearby for Sale

    • $49,900,000
      25,000 SF

      Prime Office Building For Sale

      Five-story office building with basement, mezzanine, and roof garden.
      35 E 62Nd St, New York, NY 10023
      View Details
    • $4,750,000
      Pending

      New York Specialty Property For Sale

      Specialty property available for purchase in New York, NY.
      2 W 67Th St, New York, NY 10023
      View Details
    • $8,500,000
      Pending

      Central Park West Apartment Building

      Apartment building located on Central Park West in New York.
      151 Central Park W 11NORTH, New York, NY 10023
      View Details
    • $649,000
      Pending

      Residential Property in New York

      Residential property for sale in New York, NY 10023.
      2025 Broadway 17F, New York, NY 10023
      View Details
    • $1,795,000
      Pending

      Residential Building in New York

      Residential building for sale in New York, NY.
      18 W 70Th St, New York, NY 10023
      View Details
    • $3,250,000

      West End Avenue Apartment Building

      Apartment building located on West End Avenue, New York.
      263 W End Ave, New York, NY 10023
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,712 SF

      Retail Space in New York

      Retail space available for rent in New York, NY.
      177 E 62Nd St, New York, NY 10023
      View Details
    • Contact for pricing
      6,350 SF

      Prime Retail Space Available

      Rare Upper East Side retail opportunity with high visibility.
      188 E 64Th St, New York, NY 10023
      View Details
    • Contact for pricing
      488 SF

      Upper West Side Retail Space

      Retail space in a high-traffic Upper West Side location.
      53 W 72Nd St, New York, NY 10023
      View Details
    • Contact for pricing
      1,139 SF

      Retail Space Near Lincoln Center

      Prime retail space for rent near Lincoln Center.
      186 Columbus Ave, New York, NY 10023
      View Details
    • Contact for pricing
      3,070 SF

      Retail, Office, and Parking Space

      Located near Bloomingdales with retail, office, and parking space.
      200 E 62Nd St, New York, NY 10023
      View Details
    • Contact for pricing
      1,230 SF

      Retail Space Below Residential Units

      Retail space for rent located beneath 186 residential units.
      250 E 63Rd St, New York, NY 10023
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 228th St
    New York, NY 10023
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!